Choose the given statement is true/false:

The appointment of Gomasthas was the way of assertion of monopoly rights by British companies in India.

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Detailed Solution

The above statement is true.
The appointment of Gomasthas was the way of assertion of monopoly rights by British companies in India. After consolidating its hold on political power in Bengal and the Carnatic towards the close of the 18th century, the East India Company started enforcing its monopoly right to conduct business in those regions. In exchange for money, they hired gomasthas to keep an eye on the weavers, get supplies, and judge the quality of their products. The Company made a plan for management and control, with the goals of getting rid of competition, keeping costs down, and making sure there were always enough cotton and silk items.

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